LPL Financial (NASDAQ:LPLA) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 25th. Analysts expect the company to announce earnings of $0.61 per share for the quarter.
LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.52. LPL Financial had a return on equity of 29.42% and a net margin of 5.58%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. On average, analysts expect LPL Financial to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Shares of LPLA stock opened at $58.45 on Wednesday. LPL Financial has a 52-week low of $37.38 and a 52-week high of $66.64. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 2.47. The firm has a market capitalization of $5,170.06, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 0.99 and a beta of 1.62.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were paid a $0.25 dividend. The ex-dividend date was Thursday, March 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. LPL Financial’s payout ratio is presently 33.33%.
In other news, CEO Dan H. Arnold sold 4,004 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $65.20, for a total transaction of $261,060.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marco Hellman sold 1,150,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $62.12, for a total value of $71,438,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,469,435 shares of company stock valued at $92,312,374. Company insiders own 2.60% of the company’s stock.
An institutional investor recently raised its position in LPL Financial stock. The Manufacturers Life Insurance Company lifted its holdings in LPL Financial (NASDAQ:LPLA) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,794 shares of the financial services provider’s stock after acquiring an additional 211 shares during the period. The Manufacturers Life Insurance Company’s holdings in LPL Financial were worth $119,000 at the end of the most recent quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.
LPLA has been the subject of a number of analyst reports. BidaskClub lowered LPL Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Citigroup increased their price target on LPL Financial from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Wells Fargo reiterated a “market perform” rating and issued a $60.00 price target (up previously from $52.00) on shares of LPL Financial in a research note on Thursday, January 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $66.00 price objective on shares of LPL Financial in a research report on Friday, December 22nd. Finally, SunTrust Banks restated a “buy” rating and set a $75.00 price objective on shares of LPL Financial in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. LPL Financial currently has a consensus rating of “Buy” and an average price target of $70.91.
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LPL Financial Company Profile
LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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